It's Christmas in New York City, as Raphael watches a street gang with punks carrying knives attacking a girl out Christmas shopping. He returns to the turtles' sewer hideout, informing the others. The turtles track the punks, before a fight begins. Together with Splinter, they dress up in Santa Claus-clothes, and Splinter as a reindeer. Using a truck, they give back the stolen toys.
The story in general is a retelling of the 1985 Michelangelo Christmas Mirage comic, but instead focused on Raphael.